• Sign up for the Daily Digest E-mail
  • Facebook
  • Twitter
  • LinkedIn

BOE Report

Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Featured Companies
    • Columns
    • Discussions
  • Well Activity
    • Well Licences
    • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAOEC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Oil Market Data
    • Canada NG Market Data
    • USA Market Data
    • Data Downloads
  • Jobs

Husky Energy to get $41.5 million in federal cash for stalled N.L. offshore project

December 3, 20208:41 AM The Canadian Press0 Comments

ST. JOHN’S, N.L. – Husky Energy will receive $41.5 million in federal money to maintain jobs and move toward restarting its West White Rose offshore oil project in Newfoundland and Labrador, if conditions permit.

Newfoundland and Labrador Premier Andrew Furey made the funding announcement today in St. John’s, N.L., saying the investment ensures jobs for 331 people in the province for the next year.

Furey said Husky is matching the funding with $41.5 million of its own money.

The company announced in September it was halting construction on the $2.2-billion West White Rose project, which would extend the life of its White Rose oilfield about 350 kilometres off the coast of St. John’s.

That same month, the Canadian government announced it would provide $320 million, to be managed by the province, to help Newfoundland and Labrador’s offshore oil industry as the sector sputtered under plummeting oil prices and a global pandemic.

In October, Furey assembled an oil and gas recovery task force whose goal was, in part, to decide how to parcel out that money, and he says today’s announcement is the first of several. 29dk2902l

Husky Energy

Follow the BOE Report
  • Facebook
  • Twitter
  • LinkedIn

Sign up for the BOE Report Daily Digest E-mail

Successfully subscribed

Latest Headlines
  • Canada’s weekly rig count at 205
  • Oil prices slip on cloudy demand outlook, but poised for weekly gain
  • U.S. natgas futures slide 3% on cooler forecasts, lower demand
  • PetroChina announced intention to delist the American depositary shares from the NYSE
  • Heavy and synthetic crude steady

Return to Home
Alberta Gas
CAD/GJ
Market Data by TradingView

    Report Error





    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    • Editorial Policy
    Resources
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • CamTrader
    • Rigger Talk
    Data Partner
    • Foxterra
    BOE Network
    © 2022 Grobes Media Inc.